Reliance Industries’s Jamnagar refinery in Gujarat received 27% of its oil from Russia in May, up from 5% in April. Photograph: AP
Business Insider: Oil shippers are hiding Russian cargoes by paying in Chinese yuan, exchanging weapons for crude, and 'going dark'
* Oil shippers are using several tactics to hide that they're carrying Russian crude exports, the Guardian reported.
* Using China's yuan instead of the dollar in trading and exchanging weapons or food for supplies are just two.
* Russian oil exports bought by India and then re-exported may end up in European gas stations, analysts say.
Oil shippers are using several tactics to conceal that their crude cargoes are from Russia, sources told the Guardian, as Europe and the US try to stem imports.
At the same time, concerns are growing that India, which has snapped up Russian oil at discounted prices, has the potential to be used as a "back door" for those supplies to enter Europe, the Guardian reported Sunday.
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Update: Concerns grow that India is ‘back door’ into Europe for Russian oil (The Guardian)
WNU Editor: There was some hope earlier this week of a price cap on Russian oil .... G7 discussions with China, India on Russian oil price cap positive -source (Reuters). It looks like China just killed that idea .... GT Voice: G7 is in no position to dictate nations’ oil trade with Russia (Global Times).